Apple and Nvidia are considering investing in generative AI company OpenAI.

The deal, reported by The Wall Street Journal and Bloomberg, would value the business at more than $100 billion.

Investment firm Thrive Capital is currently leading the round, and could be set to invest around $1bn.

“I have been fortunate to work with many great investors; there is no one I’d recommend more highly than Josh," OpenAI CEO Sam Altman said on Twitter/X, referring to Thrive founder Joshua Kushner.

Microsoft, which has pumped $13bn (primarily in cloud credits) into the company, is also in talks to join the round. It owns 49 percent of the business.

Apple in June announced that it planned to integrate OpenAI's ChatGPT into iOS, iPadOS, and macOS later this year - for free.

"We're excited to partner with Apple to bring ChatGPT to their users in a new way," Altman said at the time. "Apple shares our commitment to safety and innovation, and this partnership aligns with OpenAI's mission to make advanced AI accessible to everyone. Together with Apple, we're making it easier for people to benefit from what AI can offer."

News of the raise comes after reports that OpenAI was set to spend some $7bn on training and inference costs, and lose around $5bn this year. Training could cost around $3bn, while inference costs could grow to $4bn, partially due to the Apple deal.

Much of that cost ultimately goes to Nvidia, whose GPUs form the backbone of its training and inference runs.